The Growth Accelerator Malawi programme is a 12 months business accelerator targeting impactful and innovative ventures across Malawi and in all industries. Ventures selected will be provided with technical support, mentorship and co-financing.
The programme is inviting entrepreneurs in Malawi to apply to take part in the Growth Accelerator Malawi initiative. Applications open on 1st July 2019 and close on 9th August 2019.
To apply to the Growth Accelerator, an enterprise must meet the following criteria:
- Must be registered in Malawi with a business license readily available for verification
- Should have a product or service on the market
- Are open to collaboration/partnership
- Demonstrate capacity and dedication to scale the business and demonstrate sound financial performance/practices
- Are founded and/or managed by entrepreneurs who are keen on involving youth and women in the business either as staff of the company; consumers and/or people impacted along the value chain
- Deliver products or services that aim to create positive social impact directly for low-income consumers and/or the wider community to improve their basic needs
- Have the ability to use a mixed financing tools to scale the business i.e. are willing and able to take matching commercial capital investment or put in their own finances (e.g. personal savings, etc)
- Have the founder(s) full time involved in the business or plan to be full time in the next 6 months.
The following criteria shall be used to select successful enterprises:
- Potential social impact of the venture i.e. the business addresses an identifiable need(s)
- Degree of innovation
- Maturity of business i.e. post-revenue
- Ability of the submitted application to articulate product market fit
- Ability and potential of the business to scale and diversify
- Management capacity of the entrepreneur(s) and team
- Openness and eagerness to receive external input into the business (incl. investors, mentors, business support specialists etc.)
- Ability to rightly absorb and deploy the co-financing and other forms of financing